Silver continues to trade within a narrow range during recent intraday sessions, while the short-term bearish trend remains in control, reflecting ongoing selling pressure and cautious market sentiment.
The metal is still trading below EMA50, maintaining negative technical pressure and limiting recovery attempts. In addition, bearish signals from the relative strength indicators continue to support the downside outlook.
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Gold fluctuated in its recent intraday sessions while remaining below the key resistance level of $4,500, reflecting weak buying momentum and the inability to confirm a breakout that could support a short-term recovery.
MoreEURUSD declined in recent intraday trading after breaking below EMA50, increasing bearish pressure and reinforcing the short-term downtrend.
MoreBitcoin (BTCUSD) kept declining during its recent intraday movements, breaking the support level at $68,000. This support represented our expected target in our previous analysis, amid the dominance of the main bearish trend on the short-term basis, with the emergence of negative signals from the relative strength indicators, despite reaching oversold levels.
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